Africa is covered by demand for crypto-currencies !!! Now Bitkoin.Africa allows customers from all African countries to buy bitcoins, quickly and without problems. Nigeria became the first country to exchange P2P digital assets, seeking to facilitate access to bitcoin throughout the African region. Bitkoin.Africa was launched by a team of Nigerian developers on October 1 Have a nice day, everyone!  Not surprisingly, Bitkoin.Africa is launched by a team of Nigerian developers. In my opinion, Nigeria is one of the progressive countries of this region on an equal footing with the UAE and Southern Africa. Wow! That's interesting stuff - local developers are a great asset to have. thank you for finding and sharing |
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Looking at bitcoin explorer - there appears to be still high volume of transactions in Spain. Any updates would be appreciated - please post.
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Having a country scare its own public of "ban" of Bitcoin will be detrimental as her population will fall behind on the wealth curve of the world and become more poor than others.
With that said, Bitcoin has already been banned all over the world by all big banks in nearly all countries since 2013 (for over 4-years) and the banks have completely failed at stopping Bitcoin's growth. At a bank, just try to do a bank transaction say its for "Bitcoin" and watch your transaction be blocked for review.
BUT Everyone in all countries are still finding a way to get Bitcoins. They simply never say "Bitcoin" when dealing with banks. People are smart.
Notice how Bitcoin has for years successfully defeated all opposition?
A ban would only be detrimental to the country's law abiding citizens. The criminals and tax waders would continue to use Bitcoins. As long as Bitcoin is fungible and accepted by people across the globe, they would be happy to do business in bitcoins. And they profit from an appreciating currency as well. There's no way for a country to enforce any actual ban once an individual obtains bitcoin. All they can do is block exchanges from operating and certain businesses. |
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Yes not as a replacement....but as time goes on, if bitcoins market cap gets larger and larger (currently around $170 billion), will currency/fiat continue to increase in supply or will it contract?
Or will there be no bearing at all? Anyone have thoughts? |
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Yah exactly, Bitcoin has no central point of failure - it is unstoppable.
Even if the governments of India, USA, Russia, China and even big companies Apple, Amazon, all came together came out to make bitcoin illegal and said "do not use" it would do nothing and Bitcoin would continue its progress and adoption
Judging from some other posts on the forum, it appears some don't quite understand this fact? |
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I think that the most dangerous attack in the upcoming years may be due to cyber attacks by using Quantum computers.It is said that quantum computers would be able to read the private keys of a bitcoin wallet with the public key itself.If that happens,then it would have a devastating effect over the bitcoin network.Its said that core developers are working from now itself to fix that issue.
I do not believe that very soon there will be quantum computers. In addition, if such technologies will appear they will appear from all sides and chances are balanced. It seems to me that a much greater effect can be actions of banks and governments aimed at the destruction of bitcoin. Agree, wont be anytime in the next two decades. But after twenty years....maybe? |
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Reiterating: Satoshi left a text message in the first mined Bitcoin block which reads 'The Times 3 January 2009 Chancellor on brink of second bailout for banks'. The text refers to a headline in The Times published on 3 January 2009.
Theft of money from the world's peoples are a bad thing that the biggest banks did to the world. |
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Its just derivatives from bitcoins, altcoins keep popping everyday and its not suprising if there was 667 forks from bitcoin. What doesn't make sense is why there are still people going to invest a lot of money in the forks, eventhough knowing that kind of project won't have a bright future ahead  LOL - exactly. People get disillusioned with silly ideas of outsized gains....which...could have a minute chance of happening....like 1 in 30 coins can go up like crazy....and when that happens, the disillusions continue to grow and are reinforced with those people. |
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When will central banks in the world, as an aggregate, stop increasing the supply of fiat-currency/credit in the world?
?
? Anyone ?
The truth of the matter is that they wont stop. Government is in perpetuity which and the Central Banks are the ones behind it for government to still function, one key element that must stand is the economy. Even after it has failed several times, there is no alternatives on the contrary. Today, United States owed larger percentage of the total world debt but the government is still borrowing, dollars is still available to support all of the government activities and even by borrowing more. The moment governments stop giving support to fiat, everything would have gone haywire, the price of goods and services would have shown their true state which might be unattainable and the real pump and dump would have been witnessed from that end. The politicians on the otherhand have to protect themselves for the next election so they have to keep the status quo. This is not true. Governments CAN function without central banks. Governments CAN function without monetary inflation. |
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Also NASDAQ is planing to introduce Bitcoin futures. This might have an influence because a lot of buyers will buy Bitcoin futures instead of buying Bitcoin and this means that some of the Bitcoin demand will go on futures, but futures will not stop the uptrend of Bitcoin (maybe will slowdown the price increasement). Will all the popularity that Bitcoin has now, with all the media coverage and with the demand that is increasing everyday was obvious that this day (of offering Bitcoin futures) will come.
Uh, ya, again i reiterate: The release of bitcoin futures that will be settled with no actual delivery of actual bitcoins may be the tool the central banks needed to subvert bitcoin into submission. It may take a couple of years where things are fine and dandy for them to establish dominant volume at first, but once the dominance is established, manipulate and subvert. |
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[ https://medium.com/bitcoins-digital-currency/how-to-explain-bitcoin-to-a-7-year-old-a9a8c094feaf] How to Explain Bitcoin to a 7-Year-OldI’ve been explaining how Bitcoins work since 2010. Here is the simplest analogy I’ve discovered that explains transactions, anonymity, and coin production.
There’s a room that anyone can access. The room has security cameras that anyone can view, and every second of recorded footage is available online forever.
The room is filled with indestructible piggy banks made of transparent plastic. Naturally, these piggy banks have coin slots, and everyone can see which coins are in which piggy bank. These piggy banks can never leave the room.
Each person has a key that can open their piggy bank. Let’s say I want to buy a pair of alpaca socks, and you want to sell them.
First, you tell me which piggy bank is yours. Then, I walk into the room with a ski mask on. Anyone in the world can see me on the security cameras, but not my face.
Next, I unlock my piggy bank, take some coins out, then put them into your locked piggy bank. I leave the room.
Now, everyone in the world knows that your piggy bank has coins that were previously in my piggy bank. This is the case with every transaction, so everyone knows the history of every coin.
“So where do the coins come from? How did it start? Who got the first coins?”
There’s a robot in the room that runs lotteries. Every so often, this robot randomly chooses a piggy bank in the room, and puts 50 coins in it. When it first started, there weren’t many piggy banks in the room since nobody knew about it. Back then, it was easy to win the lottery. Today, there are millions of piggy banks in the room, so your odds aren’t very good.
“Ok, couldn’t someone make their own fake coins?”
No, because everyone has records of every coin in the room, and they know when the robot hands new coins out. If a fraud were to put fake coins into his own piggy bank, everyone would know that those coins were never handed out by the robot, and wouldn’t accept them.
“Who made the robot..?”
Supposedly it was a super genius Japanese man named Satoshi Nakamoto, but nobody knows for certain. Since the security camera footage is available from 2009, we can see that the robot was putting coins into a piggy bank since day 1. We assume it’s Satoshi, but that’s about all we know.
“… Crazy.”
From Tony Diepenbrock IV on medium. Or you can also watch this excellent video:bitcoin 101: https://youtu.be/Bhe61JaNFLUI think that one of the easiest way to explain bitcoin is to tell them what benefits they can get in it. In kids, you must first get thier attention and telling them what they can earn is one of the wisest way to have thier interest. Next is explain them why bitcoin is important for us specially to them, the new generations, also talk about on what is bitcoin is and how its system works. Lastly you must tell them what are the advantages and disadvantages of bitcoin for them to be ready in encountering it in the future. Your setup is too complicated. Simply put, its honest, long-term savings account. |
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Bitcoin is the king of store of value asset that can be easily moved across borders without any intermediary/3rd party that unlike gold, stocks, bonds, real estate, is largely free from any central bank led price manipulation. Bitcoin is ultimate store of value and its popularity has strengthened over time and maximizes value compared to any other altcoin...why?: If it can be shutdown, and have assets frozen by a bank or government, there would be no value If it wasn't secure, there would be no value. If it wasn't immutable, there would be no value. If it wasn't globally distributed, there would be no value. If it wasn't so strong, open-source decentralized and unstoppable, there would be no value. If it wasn't so scarce, there would be no value. If it was easy to spam transactions, there would be no value If it was stopped after all major banks on Earth banned in 2013 to today, there would be no value. (say "bitcoin" when transacting and watch the block of the transaction. simple fix=never mention "bitcoin"). If it didn't have the history of 8+ years (and still no hacker can exploit bitcoin blockchain), there would be no value If its development wasn't decentralized around the world, there would be no value If there was central "leaders" or foundation for the coin, there would be no value If it was exactly like fiat and only did transactions, there would be no value. Bitcoin has all the characteristics needed combined to make the most value and increasing more than any other financial-asset option coming from the manipulated fiat central-banking debt-system. Here's a very old outdated comparison chart with BTC price only 3200usd back then:  Compares Bitcoin vs S&P 500 Stocks vs Gold vs Bonds |
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Recently in a round table discussion, Joseph Lubin, Ethereum co-founder, stated that he believes the value of the Ethereum market cap could go to $1 Trillion.
No one else in the room even blinked at that assertion.
The current market cap of ETH is around $10 Billion.
What we can say is that either Ethereum is much more valuable than its current value or worth nothing at all. There really is no in between with the path we are on. So if the $1 trillion is true (big if), you could make a 100x return on your investment.
Does that sound too late to you?
LOL a room full of centralized points of failure. IF that were to ever happen, then Bitcoin would be $50 trillion - understand the money supply and financial asset prices to understand why Ethereum will never hit that before year 2070. Bitcoin is the king of store of value asset that can be easily moved across borders without any intermediary/3rd party that unlike gold, stocks, bonds, real estate, is largely free from any central bank led price manipulation. Bitcoin is ultimate store of value and its popularity has strengthened over time and maximizes value compared to any other altcoin...why?: If it can be shutdown, and have assets frozen by a bank or government, there would be no value If it wasn't secure, there would be no value. If it wasn't immutable, there would be no value. If it wasn't globally distributed, there would be no value. If it wasn't so strong, open-source decentralized and unstoppable, there would be no value. If it wasn't so scarce, there would be no value. If it was easy to spam transactions, there would be no value If it was stopped after all major banks on Earth banned in 2013 to today, there would be no value. (say "bitcoin" when transacting and watch the block of the transaction. simple fix=never mention "bitcoin"). If it didn't have the history of 8+ years (and still no hacker can exploit bitcoin blockchain), there would be no value If its development wasn't decentralized around the world, there would be no value
If there was central "leaders" or foundation for the coin, there would be no valueIf it was exactly like fiat and only did transactions, there would be no value. Bitcoin has all the characteristics needed combined to make the most value and increasing more than any other financial-asset option coming from the manipulated fiat central-banking debt-system. |
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I'm rooting for Bitcoin Gold! Also mining it.
[SNIP]
Any "Bitcoin Gold"-like offshoot of Bitcoin that is GPU mineable, leverages Bitcoin's blockchain and user wallets, keeps scarce supply, open-source, and small blocks, I am all for.
In the longterm, I see no reason why this altcoin wouldn't be worth more than 1.5x price of altcoin "Bitcoin Cash".
In fact, I wouldn't see why the combination of coins of ["Bitcoin Gold", Litecoin, Monero, Vertcoin, Groestlcoin] wouldn't be worth more than 5x of altcoin "Bitcoin Cash"
Today in market cap terms; we have
altcoin Bitcoin Cash $21B
altcoin Bitcoin Gold ~$2.5B
litecoin 3.3b
monero 1.9b
vertcoin 0.2b
groestlcoin 0.04b
I predict longterm 1BTG=1.5"Bitcoin cash"; currently 1BTG = 0.12
I predict longterm [the combination]=5"Bitcoin Cash", currently [combination] = 0.38
Thus I predict a hard fall in relative terms for BCH
For the time-being, I'm mining Bitcoin Gold.
And I am holding onto both my Bitcoin Gold, as well as my real Bitcoin.
Go Bitcoin Gold!
[for reference, today, real bitcoin sits at $110B]
UPDATE: Today in market cap terms; we have altcoin Bitcoin Cash (previous 11/14/2017: $21B -> now $23.4B altcoin Bitcoin Gold (previous 11/14/2017: ~$2.5B-> now $5.1B litecoin (previous 11/14/2017: 3.3b-> now $4.8B monero (previous 11/14/2017: 1.9b-> now $2.8B vertcoin (previous 11/14/2017: 0.2b-> now $0.2B groestlcoin (previous 11/14/2017: 0.04b-> now $0.04B I predict longterm 1BTG= 1.5"Bitcoin cash"; previously 1BTG = 0.12-> now 0.21I predict longterm [the combination]= 5.0"Bitcoin Cash", previously [combination] = 0.38 -> now 0.55Thus I predict a hard fall in relative terms for BCH [for reference, real bitcoin previously at $110B-> now $171B] |
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Show them the money you earn.
This is exactly the problem. If you want to make people aware of Bitcoin, you'll explain them how they can benefit from using Bitcoin in various aspects. If they at some point have enough understanding of what Bitcoin is and how this market works, these people will look for ways to make money themselves. If you explain them how they will be able to "earn" money, they'll just turn into greed filled baboons. People act like money is growing on trees here, but the fact of the matter is that everything you do involves a certain risk, and these risks should never be discarded. It's what separates winners from the losers.... Exactly - risks are very real. |
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Banks will not voluntarily stop or reduce the number and volume of lending. This is one of the significant sources of their income and it is for this purpose that they are created. The loan in the ordinary money supply will decrease as people less and less will apply to them for loans using the facilities of the crypto currency. As elsewhere in the market, the supply-demand ratio will play here. The decrease in loans issued by banks will occur gradually, since people will still need loans in ordinary money for a considerable time.
Interesting, so banks are ordinarily set on expanding credit (supply) as time goes on? |
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The release of bitcoin futures that will be settled with no actual delivery of actual bitcoins may be the tool the central banks needed to subvert bitcoin into submission. It may take a couple of years where things are fine and dandy for them to establish dominant volume at first, but once the dominance is established, manipulate and subvert.
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